Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Logitech International S.A. (NASDAQ:LOGI)

Wealth Enhancement Advisory Services LLC boosted its holdings in Logitech International S.A. (NASDAQ:LOGI) by 2.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,161 shares of the technology company’s stock after purchasing an additional 120 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Logitech International were worth $507,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Banque Transatlantique SA bought a new stake in shares of Logitech International during the fourth quarter valued at approximately $26,000. Sierra Ocean LLC purchased a new position in Logitech International during the fourth quarter valued at $27,000. Bessemer Group Inc. increased its holdings in Logitech International by 1,339.1% in the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock valued at $27,000 after acquiring an additional 308 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Logitech International by 975.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company’s stock worth $40,000 after purchasing an additional 439 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Logitech International in the 4th quarter worth $49,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Logitech International from $96.00 to $80.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Bank of America upgraded Logitech International from an “underperform” rating to a “neutral” rating and cut their price target for the company from $90.00 to $73.00 in a report on Friday, April 4th. Wall Street Zen downgraded Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Wedbush reiterated an “outperform” rating and set a $100.00 target price on shares of Logitech International in a research report on Wednesday, May 21st. Finally, Barclays cut their target price on shares of Logitech International from $108.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $84.29.

Logitech International Price Performance

Shares of LOGI stock opened at $87.45 on Friday. The company has a market cap of $13.83 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 2.61 and a beta of 0.96. Logitech International S.A. has a 1 year low of $64.73 and a 1 year high of $105.65. The stock’s 50 day simple moving average is $79.78 and its two-hundred day simple moving average is $86.41.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.07. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. Logitech International’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. Equities research analysts expect that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International announced that its Board of Directors has authorized a stock buyback plan on Wednesday, March 5th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.